Ballard Power Systems (NASDAQ:BLDP) Downgraded by HSBC to Hold

HSBC cut shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Marketbeat Ratings reports.

Other research analysts have also issued reports about the stock. Wells Fargo & Company lowered their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 13th. Cibc World Mkts cut Ballard Power Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. StockNews.com raised Ballard Power Systems to a “sell” rating in a research note on Friday, November 1st. TD Securities downgraded Ballard Power Systems from a “hold” rating to a “sell” rating and decreased their target price for the stock from $2.50 to $1.50 in a research report on Monday, August 12th. Finally, Jefferies Financial Group lowered their target price on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $2.87.

Ballard Power Systems Stock Down 19.2 %

Ballard Power Systems stock opened at $1.35 on Wednesday. The stock’s 50 day moving average price is $1.69 and its 200 day moving average price is $2.21. Ballard Power Systems has a 1-year low of $1.32 and a 1-year high of $4.02. The company has a market cap of $404.22 million, a PE ratio of -2.14 and a beta of 1.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.90 and a quick ratio of 10.05.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The company had revenue of $16.00 million during the quarter, compared to the consensus estimate of $19.36 million. During the same quarter last year, the company earned ($0.10) earnings per share. Ballard Power Systems’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts predict that Ballard Power Systems will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Several hedge funds have recently modified their holdings of the company. Endowment Wealth Management Inc. acquired a new position in shares of Ballard Power Systems in the first quarter valued at approximately $28,000. Tidal Investments LLC purchased a new stake in Ballard Power Systems in the 1st quarter worth approximately $39,000. Westwood Holdings Group Inc. acquired a new position in Ballard Power Systems in the 1st quarter valued at $59,000. Scientech Research LLC acquired a new position in Ballard Power Systems in the 2nd quarter valued at $52,000. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Ballard Power Systems by 149.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after purchasing an additional 14,415 shares during the period. 28.02% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Company Profile

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.